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Phelps will receive royalties based on sales and the performance of the brand

Michael Phelps will launch his own swim wear brand ahead of the '16 Rio Games. The most-decorated Olympian has signed an eight-year partnership with Aqua Sphere that will result in a Phelps brand of suits, goggles and equipment. The deal comes seven months after the end of Phelps’ long-term endorsement agreement with Speedo. It offers Aqua Sphere an opportunity to break into the competitive swimwear category which has been dominated for decades by Speedo, Tyr and Arena. It also gives Phelps a chance to create his own brand like other marquee athletes such as Michael Jordan, Tiger Woods and Roger Federer. The look and feel of the brand are still being developed, said Octagon’s Peter Carlisle, who represents Phelps. Carlisle said, ...